How much 12-year-old boy who became a millionaire after investing in Bitcoin is worth after it reaches sky-high rate
A 12 year old boy became a millionaire after he invested in Bitcoin.
Those lucky investors who got in on the Bitcoin trend early have seen themselves scoop a fortune as it reached a sky-high rate.
That was certainly the case for one young man who saw himself become a millionaire as a result.
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With Donald Trump’s recent election win, the cryptocurrency’s value has been expected to rise and Bitcoin hit a record high earlier this month.
On November 6, it reached over $75,000, with its previous record of just under $74,000 being reported in March of this year.
Trump’s successful bid for the White House has turned out to be good news for people with investments in Bitcoin, particularly Erik Finman.
At the tender age of 12, Erik invested $1,245 into Bitcoin which he had been given from his grandmother.
By the time Erik reached 18, his initial investment had increased to a staggering $2.07 million. Now, following Trump's victory, that initial 103BTC would be worth almost three times as much, at a huge $7,543,694.
Reflecting on his decision that paid off massively, Erik said ‘people didn’t really get what I was trying to do’.
He told The Business of Business: “I really didn't like high school. People didn't really get what I was trying to do, get what I was searching for or what I was dreaming of.
“I had one teacher tell me, yeah, drop out, work at McDonald’s since I’ll never amount to anything more in life.
“I dropped out of high school and made a bet with my parents: if I make a million dollars by the time I’m 18, I don’t have to go back to school or go to college.”
After making his first million, Erik, who is a Trump supporter, didn’t stop there and built the amount of Bitcoins he had to 341 with an estimated worth of more than $4.8 million by mid 2020.
Following Trump's victory, 341 BTC is now worth an eye-watering amount, at just under $25 million.
Although Erik, who is now 25, hasn’t been too happy about his claim to fame.
Instead, he has insisted that he is ‘desperate to get out of crypto’ and is ‘sick of being the Bitcoin person’.
In a career switch up, he’s recently been putting his finances into aircraft which he said has made ‘good money’.